Affirm (NASDAQ:AFRM) Shares Down 4.5% on Analyst Downgrade

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price traded down 4.5% on Tuesday after Barclays lowered their price target on the stock from $50.00 to $41.00. Barclays currently has an overweight rating on the stock. Affirm traded as low as $29.58 and last traded at $29.67. 903,594 shares traded hands during trading, a decline of 91% from the average session volume of 9,717,815 shares. The stock had previously closed at $31.06.

A number of other equities analysts also recently weighed in on AFRM. Needham & Company LLC initiated coverage on shares of Affirm in a report on Wednesday, April 3rd. They issued a “hold” rating on the stock. Royal Bank of Canada boosted their price target on shares of Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. BMO Capital Markets raised their price objective on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, The Goldman Sachs Group raised their price target on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.86.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the sale, the director now owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently modified their holdings of AFRM. Creative Financial Designs Inc. ADV lifted its position in Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares during the period. Treasurer of the State of North Carolina grew its holdings in Affirm by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after acquiring an additional 480 shares during the last quarter. Planned Solutions Inc. bought a new stake in Affirm in the 4th quarter worth $25,000. Finally, Signaturefd LLC raised its stake in shares of Affirm by 9.0% during the third quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock valued at $136,000 after acquiring an additional 528 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Trading Down 0.2 %

The stock has a market capitalization of $9.47 billion, a P/E ratio of -12.40 and a beta of 3.57. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The firm’s 50 day moving average price is $36.73 and its 200 day moving average price is $34.45.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. The firm had revenue of $591.11 million for the quarter, compared to the consensus estimate of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. As a group, equities research analysts expect that Affirm Holdings, Inc. will post -2.45 earnings per share for the current fiscal year.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.